Merger Sparks a Surge in Optical Stocks
The merger of two optical component vendors has sparked a strong rally in the sector. The combination of Oclaro and Opnext (OPXT) is expected to reduce capacity in the optical components industry. Analysts believe this merger will provide a profitability boost that will benefit other component companies.
One such beneficiary would be JDS Uniphase (JDSU), which is moving very well on the news -- a 3.75% gain on its heaviest positive trade in weeks. The day began with a gap-higher open that lifted shares to new March highs. The stock has remained well bid today and is now trading just shy of the $15 level....231 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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